Cross-Market Innovation

Cross-market innovation refers to the process of applying ideas, products, or technologies from one market or industry to create new solutions in another. It involves identifying successful concepts in one area and adapting them to meet the needs of a different market. This can lead to groundbreaking products or services that address challenges in diverse fields. For example, using technology developed for smartphones in healthcare devices enhances patient monitoring. Essentially, it's about leveraging knowledge and creativity from various sectors to stimulate growth and innovation.